Word: laundering
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...city's respected First National Bank has been accused in an FBI affidavit of having failed to report huge cash transactions with firms controlled by the Angiulos, as required by law. William Brown, the bank's chairman, admitted last week that the Mob may have "used" the bank to launder more than $2 million in cash, but if so, he claimed that bank officials had helped "unwittingly...
...dons were also shrewd enough to invest their profits in diversified holdings: they now own extensive real estate in Florida, half of the approximately 200 high-rises along Panama City's oceanfront, and a variety of small businesses and financial institutions, like currency-exchange houses, through which they can launder their profits. "These guys don't rob banks," says Craig Vangrasslek, who studied the drug industry on a Fulbright scholarship in Bogota. "They buy them." Soon the drug pipeline was operating as smoothly and as punctually as a regularly scheduled airline. Almost every day, soon after dawn, Colombians in sleek...
...proposal to get tough on banks that launder cash...
...time crime in the U.S. must be able to count on one thing: converting its seamy gains into money that is easier to use than the stacks of $50s or $100s in which payoffs are often made. By a process known as laundering, criminals deposit money in American or foreign banks, then withdraw it and invest it in construction projects, real estate or corporations. There is a lot to launder. The underworld's haul is estimated at no less than $ 170 billion annually from drug trafficking, prostitution and illegal gambling. Last week a report by the President...
...teller's window with a few dollars less than $10,000 in cash. Couriers known as "Smurfs," referring to the cartoon characters, flit from bank to bank buying cashier's checks and money orders for just under the reporting limit. One of the most popular ways to launder money in Florida now is to buy real estate. An estimated $2.5 billion worth of property in that area is believed to have been bought with drug profits...